By: Derek Brower – Financial Times – A fracking binge in the American shale industry has permanently damaged the country’s oil and...
By: Paul Takahashi – Houston Chronicle – For nearly four decades, Cushing, Okla. has served as the epicenter of the U.S. oil...
By: David Blackmon – Forbes – A pair of new reports issued on Monday portray a domestic oil and gas industry entering into...
By: David Hodari – WSJ – The world’s appetite for crude oil won’t reach its apex for another two decades, the Organization...
By: Eric R. Hawkins – Mayhawk Energy, LLC – To say that we live in an anxiety-filled world right now is the...
By: Tore Guldbrandsøy, senior vice president, and Ilka Haarmann analyst, at Rystad Energy – CNBC – Energy transition has climbed towards the...
By: Jessica Resnick-Ault & Arathy S. Nair – Reuters – Oasis Petroleum Inc and Lonestar Resources US Inc’s bankruptcy filings are the...
By: Paul Takahashi – Houston Chronicle – Plugging and cleaning up the abandoned oil and gas wells in Texas could cost companies...
By: S&P Global Platts – ExxonMobil remains focused on growing its core oil and gas business as alternative renewable energies are mostly...
By: S&P Global Platts – ConocoPhillips sees the US’ Eagle Ford Shale as its current main domestic activity focus, at a time...
US Steel is turning Japanese in a $14.1 billion deal. US Steel, once the world’s largest company and a symbol of US manufacturing might that counts J.P. Morgan and Andrew Carnegie among its founders, has agreed to be bought by Japan’s Nippon Steel. The deal ends months of speculation over the 122-year-old steel company’s fate after it rebuffed a $7.3 billion offer from domestic rival Cleveland-Cliffs over the summer. Assuming regulators and US Steel’s shareholders sign off on the purchase, it would make Nippon the second-biggest steel company globally and give it a major presence in the US market, which uses a lot of steel, especially to make cars.
Nikola's founder gets four years for fraud. Trevor Milton was sentenced to four years in prison yesterday after having been found guilty of defrauding investors in the electric vehicle company he founded. While that’s less than the Elizabeth Holmes-level, 11-year sentence prosecutors had pushed for, it’s more than the probation he requested. Nikola was briefly the third-most-valuable vehicle company in the US, but its value plunged when a short seller accused the company of lying about its tech. Prosecutors agreed and claimed Milton fibbed about the company’s progress, including in an infamous video that purported to show one of its trucks operational and moving when it was really just rolled down a hill.
A volcano erupted on Iceland’s Reykjanes Peninsula yesterday near a town that was evacuated last month after a series of earthquakes signaled an eruption was coming. The government said the volcanic activity was the most powerful the area had seen since a major disaster in the 1970s.
The Energy Information Administration expects US oil production from major US shale formations to decline for the third month in a row to 9.692 million barrels per day in January, even as Permian Basin output is projected to hit a record 5.986 million bpd.
Additionally, shale gas production is set to fall to 99 Bcf/d in January, which would mark the fifth straight month of declines
(Monday market close) Bullish investors picked up where they left off last week, sending the Dow Jones Industrial Average® (DJI) to a fourth consecutive record high close as the market extended a holiday-season rally behind ongoing optimism that 2024 will bring lower interest rates and a potential "soft landing" for the economy.
The S&P 500® index (SPX), coming off a seven-week winning streak (its longest string since 2017), ended near a two-year high, as did the Nasdaq Composite® (COMP). Markets remained generally buoyant following last week's relatively tame inflation readings and a more aggressive outlook for rate cuts from the Fed. Here's where the major benchmarks ended:
The S&P 500 index was up 21.37 points (0.5%) at 4,740.56; the Dow Jones Industrial Average was up 0.86 points at 37,306.02; the Nasdaq Composite was up 90.89 points (0.6%) at 14,904.81.
The 10-year Treasury note yield (TNX) was up about 2 basis points at 3.946%.
The Cboe® Volatility Index (VIX) was up 0.25 at 12.53.
Benchmark U.S. crude oil for January delivery rose $1.04 to $72.47 per barrel Monday. Brent crude for February delivery rose $1.40 to $77.95 per barrel.
Wholesale gasoline for January delivery rose 2 cents to $2.16 a gallon. January heating oil rose 5 cents to $2.67 a gallon. January natural gas rose 1 cent to $2.50 per 1,000 cubic feet.
Mineral rights fragmentation is not a temporary crisis but an inherent, perpetual friction in...
Natural gas remains the leading source of electricity generation in the United States, but...
President Donald Trump used his address at the United Nations General Assembly this week...
West Texas holds a treasure trove of natural gas that could become a critical...
TotalEnergies has signed an agreement with Continental Resources to acquire a 49% interest in...
by Bloomberg [via RigZone.com] |Veena Ali-Khan, Mia Gindis| Oil notched its biggest weekly gain...
By DANIEL JONES, US CONSUMER EDITOR | Daily Mail | and REUTERS | Exxon Mobil...
By Claire Hao, Staff Writer| Houston Chronicle| Vistra plans to build two new natural gas...
By Mella McEwen,| Midland Reporter Telegram | John Sellers and Cody Campbell, co-chief executive officers...
AXP Energy has confirmed the presence of hydrocarbons in multiple pay zones at its...
Ukraine’s ongoing drone campaign has become a major headache for Moscow, targeting one of...
OPEC+’s production hikes have been a tool to both punish countries that were overproducing...
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